- First Litecoin (LTC) & XRP tracking Exchange Traded Products available on a regulated exchange in EU
- Nordic Growth Market (NGM)is owned by Boerse Stuttgart, Germany’s second Largest Exchange
- Listing as XBT Provider reports 3 quarters of net positive inflows ($90M in total), a company first
- Litecoin experienced over a 100% rise in price in Q1 2019; still down over 70% from high of $375 in Dec. 2017
- XRP experienced relatively flat performance in Q1 2019; still down over 90% from high of $3.84 in Dec. 2017
STOCKHOLM, APRIL 4, 2019 –- As of market open, tomorrow, April 5, the first XRP and LTC tracking, Exchange Traded Products are available to EU investors via the Boerse Stuttgart owned, Nordic Growth Market (NGM).
The listing marks the first time investors in the EU have access to both digital assets, LTC and XRP, via a regulated exchange alongside other traditional listed investments such as equities or derivatives.
“This is an important moment for traditional investors and the crypto community alike as LTC and XRP now, effectively, have an ISIN number. This was not an easy feat and a lot of credit is due to our MD of XBT Provider, Laurent Kssis and his counterparts at NGM for their expertise in navigating the complexities of the traditional system and bringing these new digital asset products to market for investors” says Ryan Radloff, CEO of CoinShares, parent to XBT Provider.
Notably, with these listings, any eligible investor whose brokerage or electronic trading platform has access to the NGM exchange can add passive LTC or XRP exposures to their brokerage, trading or, in some cases, tax advantaged accounts such as an ISK (Sweden) or SIPP (UK) account.
“For traditional investors who are interested in trading, and already have accounts with brokers such as Avanza or Nordnet, but may not care to setup new accounts with new, often unregulated, crypto exchanges, two new crypto assets are now available, this is another important step in the professionalization of the infrastructure around this asset class” says Radloff.
This makes XBT Provider’s second venue for listing, and the third time it has broken new ground as it previously listed Bitcoin and Ether tracking products on the Nasdaq Stockholm exchange in 2015 and 2017 respectively; products which actively trade and comprise, as of today, more than $374M of invested assets.
As part of the evolution to offering a broader product suite with a focus on maximizing access to investors, XBT Provider worked with the leading Nordic exchange for investment products, NGM, which is a wholly owned subsidiary of Germany’s second largest exchange, Boerse Stuttgart.
“This is first and foremost a win for investors, especially those in Sweden who have demonstrated such strong support of prior crypto offerings. As an industry, it is important for us to listen, though with caution, to the requests of our investors and respond in kind. We are very excited to be part of making history here with the first ever LTC and XRP tracking products; and look forward to continuing to collaborate closely with XBT Provider on behalf of investors interested in new offerings” says Tommy Fransson, NGM Deputy CEO.
As with XBT Provider’s prior products, each tracking certificate represents a set amount of the underlying asset (LTC and XRP) and tracks a composite index of each asset. When a certificate is purchased on exchange it is then hedged with the corresponding underlying asset 1:1. For more information on XBT Provider’s family of products or for further inquiry, please consult xbtprovider.com or info@xbtprovider.com.
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About XBT Provider XBT Provider AB (Publ) (XBT Provider), a CoinShares company, is the Swedish-domiciled issuer of the Bitcoin Tracker One (SE0007126024), Bitcoin Tracker Euro (SE0007525332), Ether Tracker One (SE0010296574) and Ether Tracker Euro (SE0010296582), Litecoin Tracker One (SE0011414465), Litecoin Tracker Euro (SE0011414457), XRP Tracker One (SE0011414481), XRP Tracker Euro (SE0011414473), series of certificates (collectively, the “Certificates”) which are designed to synthetically track the performance of the price of the relevant underlying crypto-asset, bitcoin, ether, litecoin or XRP (in Swedish Kronor or Euro, respectively), less a fee component.
In 2015, Bitcoin Tracker One became the first bitcoin-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. In 2017, Ether Tracker One became the first ether-referenced security available on a regulated exchange when it listed on Nasdaq Stockholm. In 2019, Litecoin Tracker One became and XRP Tracker One became the first litecoin-referenced and XRP-referenced security available on a regulated exchange in the EU when they listed on the Nordic Growth Market. The Certificates are available and traded in the same manner as any other share or instrument listed on their respective exchanges.
XBT Provider’s Prospectus is approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and the Certificates are governed by Swedish law. XBT Provider is not a licensed financial advisor. The views presented in this release are the opinions of the Board of XBT Provider and no other party. Bitcoin, ether, litecoin and XRP are volatile assets and their prices (and the price of securities that are referenced to them) can move quickly, positively or negatively. Prospective investors in the Certificates should carefully consider the suitability of such an investment and whether they have sufficient financial resources in order to be able to bear the risks associated therewith and, in connection with such a determination, should carefully read XBT Provider’s latest Prospectus (including, in particular, the risk warnings set out therein). The Certificates do not confer on the holders thereof any claim to or against the relevant underlying crypto-asset to which they are referenced. The value and any payment due under the Certificates will be affected by the exchange rate between the US Dollar and the Euro or, as the case may be, between the US Dollar and the Swedish Kronor. Any returns upon the Certificates will not be the same as the returns which a direct investment of an equivalent sum in the relevant underlying crypto-asset could produce. The Certificates are non-equity linked, non-principal protected, unsecured and unsubordinated and do not bear interest.
About Nordic Growth Market Nordic Growth Market NGM AB (NGM) is an authorized stock exchange with operations in Sweden, Norway, Denmark and Finland. The exchange is a wholly-owned subsidiary of Boerse Stuttgart, the leading retail exchange in Germany. NGM offers a complete marketplace for exchange traded products and provides a complete platform for companies wishing to list shares. For more information about NGM, visit www.ngm.se. Follow us on LinkedIn and Twitter.
This press release appears as a matter of record only. It is not intended to constitute an offer, solicitation or invitation for any securities and may not be distributed into jurisdictions where it is unlawful to do so.
This document is not intended to constitute an offer to sell or a solicitation of an offer to purchase securities in the United States. The products have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to U.S. persons unless they are registered under applicable law or exempt from registration. XBT Provider does not intend to register the products in the United States or to conduct a public offer of securities in the United States.
